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Marketing 201 Principles of Effective Marketing and Core Techniques.

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Presentation on theme: "Marketing 201 Principles of Effective Marketing and Core Techniques."— Presentation transcript:

1 Marketing 201 Principles of Effective Marketing and Core Techniques

2 Agenda EMS Points of Difference Communication Strategy Developing Effective Advertising Short Sales

3 EMS: Differentiated Marketing Services Kevin Oldham Vice President – United Country Marketing Services

4 I NTERNAL M ARKETING R ESOURCES A VAILABLE TO UC A FFILIATES Internal Marketing Firm UCMS’ Suite of Services These are optional marketing services

5 WHAT IS EMS? United Country Marketing Services’ exclusive suite of services Designed to address need for seller-paid marketing services These optional services are above the standard UC offering

6 W HAT IS U NITED C OUNTRY M ARKETING S ERVICES ? Your in-house marketing team: –Strategic marketers: 4 –Graphic designers: 4 –Web designers & SEO Specialists: 3 –Media planners: 1 –Media buyers: 1 –Copywriters: 1 –Public relations specialists: 2 –Editors: 1 You have a full marketing team of 17 professionals supporting you….can your competitors stake this claim? We free you up to do what you do best…list and sell real estate and conduct auctions.

7 EMS IS A COMPETITIVE DIFFERENTIATOR DESIGNED TO HELP YOU LIST AND SELL… Common denominator: Seller typically funds a campaign with your company’s name tattooed on the advertising

8 THE VALUE OF DIFFERENTIATION Realtor Telephone Office Location Yard Signs Local NSP Ads Local Internet Site Home Mortgage Home Warranty Fliers Virtual Tours Oldest Local Office Purchased Lists Postcards Online Bidding 700 Offices National Network #1 Horse Property #1 Website Exclusive Catalogs Largest Integrated Network Confidentials EMS Natl. Adv. of Listings Increase Listings Increase Commissions 10% 4% 7% Commission Rates

9 H OW Y OU C AN MAKE M ONEY L EVERAGING EMS Use EMS to open doors that previously may have been closed Leverage EMS to drive buyers to your listings Revitalize marketing efforts on existing listings Eliminate the Opportunity Cost of executing marketing tasks yourself Use EMS as a differentiator to increase listings & commissions

10 EMS MARKETING PROCESS

11 THE EMS SUITE OF SERVICES Fully Integrated multi- media auction marketing campaigns ‘One-off’ services –Brochures –Media Plans –Digital Campaigns –Corporate ID –Any marketing needs you need, we can handle them for you

12 A NNOUNCING THE UCM ARKETING S ERVICES. COM W EBSITE Important Differentiator For EMS Clients

13 OUR VISION STATEMENT United Country Marketing Services’ vision is to deliver professional, fully integrated marketing solutions that give United Country affiliates a competitive advantage by: –Creating opportunities to for you to list and sell large properties, real estate developments and auctions –Increasing the likelihood of an acceptable offer –Stimulating the market by focusing a spotlight on your listing or auction –Serving as a differentiator in listing presentations

14 EMS: Differentiated Marketing Services Kevin Oldham Vice President – United Country Marketing Services

15 Marketing 201 Principles of Effective Marketing and Core Techniques

16 Differentiation Brands - Companies, People, Products, Services, Countries, Anything Influenced by Man Each Stand for Something Different –America – China –ReMax – United Country No Two Brands Are Identical –The Olsen Twins –Coke and Pepsi Buyers and Sellers Choose Brands They Perceive as Unique and Better –They Will Also Pay More for a Better Brand

17 Differentiate Write Down Every Reason A Seller Should Choose You to List Their Property vs Your Competition Write Down Every Reason a Buyer Should Let You Represent Them vs Your Competition Now Rank Those Reasons in Priority Order –Ask Others to Rank Them Too Try to Understand What the Common Theme is for The Top Three Combined This is Your Key Point of Differentiation and Reasons to Believe

18 Communication Strategy Now that You Know Your Key Point of Differentiation and Reasons to Believe… …You Must Communicate It …Effectively

19 Remember “Whisper” What Did You Learn From that Game? How Could You Guarantee Your Intended, Important and Expensive Message is Communicated and Received? Write It Down

20 Step 2 The Creative Brief Write It In a Brief (Short) Form What, Who, Why, How, When, How Much Elements –Background / Situation / Opportunity –Objective –Strategies –Tactics –Key Message (1 Idea – 1 Sentence) – Consumer Take-a-way –Key Reasons to Believe (5-7 Max) –Target Market (Narrower is Better) –Timeline –Budget

21 Example of a Creative Brief From: United Country WS Sent: Friday, September 18, :02 AM To: Richard Thompson Subject: Re: Technology Fee document Richard, I find it amusing that some would complain about the minimal technology fee the home office charges. The complaints must come from those who just don't understand what it takes to maintain all the services that Mike, Judy, Tom and last but not least Dick do for us. I am sure there are many others behind the scene as well. Tell them they all do a great job, but please don't share this w/other affiliates as I do not intend to offend the whiners, just applaud the efforts of the workers :) Solomon Background / Situation / Opportunity: Potlatch Timber Company wants to sell 10,000 harvested acres in MN. Objective: Sell available acres fast and at the fair market value within 12 months. Strategies: Market as recreational hunting property Subdivide into 100 and 200 acre lots Emarketing, Direct Mail and Event Marketing Tactics: and Mail to Special Confidentials and InfoUSA Hunters in MN Attend MN Deer Hunters Association Show in May and DU Monthly Meetings Key Message – Single Consumer Take-a-way: “Virgin Hunting Land” Key Reasons to Believe (5-7 Max) 1. 1 st Public Sale of Timber Property 2. Not hunted in over 15 years 3. Trophy buck pictures from property Target Market (Narrower is Better): MN deer hunters, age 40-65, with incomes over $70,000. Timeline Creative brief complete 3/15/10 Creative brief to EMS 3/16/10 First review of creative concept 3/30/10 Final creative approval 4/15/10 1 st blast 4/20/10 1 st Direct mail drop 4/20/10 Direct mail In-home 4/25-4/30/10 Deer Hunters Show 5/17/10 1 st MN DU Meeting 5/125/10 Budget: $5,200

22 Step 3 The Execution Evaluate Ads and Creative Against the Brief –Objective not Opinion –Only Matters if the Target Likes It The Fewer Words (Images) the Better –“Just Do It” –7 Max – Card Game show 7 cards, ask to remember, after 7 th stand up if you remember the first card, sit 2-6 if forget. The More Interesting The Use of Words (Images) the Better –“So Easy A Caveman Can Do It” –“Sell Greed, Buy Fear”

23 Words Matter From: United Country WS Sent: Friday, September 18, :02 AM To: Richard Thompson Subject: Re: Technology Fee document Richard, I find it amusing that some would complain about the minimal technology fee the home office charges. The complaints must come from those who just don't understand what it takes to maintain all the services that Mike, Judy, Tom and last but not least Dick do for us. I am sure there are many others behind the scene as well. Tell them they all do a great job, but please don't share this w/other affiliates as I do not intend to offend the whiners, just applaud the efforts of the workers :) Solomon Communication Objective: Inspire the team during tough times… “The hardest of times, show just who is tough” Or “When the going gets tough, …” Communication Objective: Inspire service and sacrifice “Ask not what your country can do for you,…” Use common words in an interesting way. Oxymoron: “Heaven on Earth” Alliterative: “Find Your Freedom” Hyperbole: “Voted #1 in Equine Real Estate” Rhyme: “Theurer for Surer” Range: “National Adverting, Local Expertise” Essence Tag: “Just Do It”

24 Use Copy that is Short … …But Persuasive 3,000,000 Visitors per Month! Discover Why National Marketing, Local Expertise Uniting Local Sellers with Nationwide Buyers! Grand Opening, Since 1925 Sell Your Home on 1,000 Websites

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27 Determining Ad Effectiveness “The BIG 3” Test 1.Motivating Message –Real consumer need or want –Call to Action – Tell them what they should do 2.Clear Branding –Clear Company Branding 3.Entertaining –Somehow interesting, different, unexpected, celebrity, personal –Using words or images

28 Effective Marketing Communication Process Understand Why You Are Unique and Better –Point of Difference –Reasons to Believe Write Creative Briefs for Each Initiative Evaluate Creative Against the Brief Practice Copy Principles –Fewer, Interesting (Different)= Memorable

29 Media Mix Most Heavily Dependent on Your Target Media Planning –Establish a Budget –What media habits does your target have? –1 Frequency – Maximize Reach Heavily Dependent on Your Main Objective –Launch / Awareness = Billboard, Newspaper, Radio Remote –Limited Time = Signs, Radio, , Direct Mail –Market Leadership = All Media (esp Billboards, Newspaper and TV) –Listing Advertising = Consider All, Target and Timing Ask for “Value Added” from Media Companies –Free Special Events, Promotions, Networking

30 Short Sales What Every Agent Should Know

31 Short Sales Some of your clients may find themselves in a situation whereby they are unable to afford their mortgage payments. In these situations, a short sale may be a good alternative to a foreclosure.

32 Short Sales What is a short sale? Selling a property for less than what is owed. The lender holding the mortgage agrees to take less than the mortgage payoff amount. Agents must understand this technique as their seller’s biggest investment and future home is on the line

33 Short Sales Pros –May be the best option for your seller –Expertise your sellers will value –Can be less damaging to your sellers credit (vs foreclosure) –Stops collection calls from the mortgage company –Can save the embarrassment of having a sheriff sign on the property. –No foreclosure notice printed in the newspaper –Typically much quicker than a foreclosure, even though it may take 2 to 3 months or more –Being pro-active in resolving the matter is usually much less stressful than just letting a foreclosure happen

34 Short Sales Pros –Some lenders will loan to a short sale seller within 2 (Fannie / Freddie) – 5 years Foreclosures at 5 (Fannie / Freddie) -7years –Short sales stay on your credit report 7 years, bankruptcy 10 years. May be able to get a short sale removed after 4-5 years, not foreclosure (legal requirement on foreclosure). –New information as of January 2009: There is ONE major benefit by SOME FHA lenders! A short sale will not be counted against a borrower if they want to buy a new home right away. A foreclosure requires a waiting period of two years

35 Short Sales Pros –You can negotiate credit reporting by the lender, it is their choice on short sales, not foreclosures –Lenders may be more open to a short sale in your credit report versus foreclosure. –You settle all debts, foreclosure can still pursue 2nd mortgages and debt deficiency judgments. From: United Country WS Sent: Friday, September 18, :02 AM To: Richard Thompson Subject: Re: Technology Fee document Richard, I find it amusing that some would complain about the minimal technology fee the home office charges. The complaints must come from those who just don't understand what it takes to maintain all the services that Mike, Judy, Tom and last but not least Dick do for us. I am sure there are many others behind the scene as well. Tell them they all do a great job, but please don't share this w/other affiliates as I do not intend to offend the whiners, just applaud the efforts of the workers :) Solomon

36 Short Sales Cons Lower Commissions Labor Intensive Time Consuming Learning Curve is Large Negative Credit Score Implications Should not be your sole focus as mortgage restructuring (government programs) and time requirements may limit the volume of available deals From: United Country WS Sent: Friday, September 18, :02 AM To: Richard Thompson Subject: Re: Technology Fee document Richard, I find it amusing that some would complain about the minimal technology fee the home office charges. The complaints must come from those who just don't understand what it takes to maintain all the services that Mike, Judy, Tom and last but not least Dick do for us. I am sure there are many others behind the scene as well. Tell them they all do a great job, but please don't share this w/other affiliates as I do not intend to offend the whiners, just applaud the efforts of the workers :) Solomon

37 Short Sales From: United Country WS Sent: Friday, September 18, :02 AM To: Richard Thompson Subject: Re: Technology Fee document Richard, I find it amusing that some would complain about the minimal technology fee the home office charges. The complaints must come from those who just don't understand what it takes to maintain all the services that Mike, Judy, Tom and last but not least Dick do for us. I am sure there are many others behind the scene as well. Tell them they all do a great job, but please don't share this w/other affiliates as I do not intend to offend the whiners, just applaud the efforts of the workers :) Solomon Basics Facts Will still be a major hit on their credit rating, most believe it won’t be as bad as foreclosure. Some banks hide deficiency balances in the short sale, so this must be negotiated out. In a short sale, the lender pays the broker’s commissions. Banks threshold are typically 85-92% of current market value − You can sometimes get better than this, but it is rare.

38 Short Sales Process - Key Steps First try loan modification. Try to find and work with a short sale processing company on at least your first couple of deals. Find one that takes a partnership approach where you work with the client, the short sale company works with the bank. A good short sale processor will walk you through the special paperwork that is required, and be able to provide help along the way. Work with an Experience Mentor on your first few short sales. –New Agents Close 50%, Experts Close 95% Focus on only listing short sales that have a high probability of closing. Look for: 1. A motivated, responsive seller 2. Loans from lenders that are likely to work with you (no private money loans, liens, or judgments) 3. Properties that aren't ridiculously upside down (asking the bank for less discount improves likelihood of a close 85% or less) 4. Properties that are easy to value (no unusual features, lots of local comps).

39 Short Sales Process - Key Steps − A successful agent must be detailed oriented, organized and willing to do significant paperwork (approximately 200 pages) − The work is similar to being a mortgage broker − Only submit 110% Complete Packages to the Lender − Always include a BPO (even if not required) − Get foreclosure comps for the bank. − Seller MUST have a very good “Hardship Letter” plus strong evidence − Can happen in 30 days from submission if 110% complete − Have a Bonafide Offer − Do the bankers job for them − Time to acknowledge 3-7 days, Time to approve days − Commissions allowed 3%-6% Be prepared to defend your commission rates, esp. on 2nds with some banks. “Policy” on rates, may not always be policy.

40 Short Sales From: United Country WS Sent: Friday, September 18, :02 AM To: Richard Thompson Subject: Re: Technology Fee document Richard, I find it amusing that some would complain about the minimal technology fee the home office charges. The complaints must come from those who just don't understand what it takes to maintain all the services that Mike, Judy, Tom and last but not least Dick do for us. I am sure there are many others behind the scene as well. Tell them they all do a great job, but please don't share this w/other affiliates as I do not intend to offend the whiners, just applaud the efforts of the workers :) Solomon Process - Key Steps Call the short sale negotiator every 3 days Be courteous and professional on the phone when dealing with the lender. Know ahead of time who the negotiator's team leader is, and who the team leader's manager is. If you are not getting response on every 3rd call, the next call should be to the next level up. Once you have escalated to the upper level, insist on them remaining in the loop of s, internal s, voice messages or what ever. Make sure to write the loan number on every piece of paper, including the contract, you send to them. Call the dept. who is handling the SS and let them know you are sending a fax. Then faxing a page or two to them every few days with the loan number on it forces them to pull the file, and add the fax, which then has the file going to the top of the pile. Get a written “full” release of all liability from your lenders. DO NOT complete a short sale unless your lender(s) will provide a full release, IN WRITING. Do not rely on anyone's advice that, "they usually don't pursue it." Some banks wont.

41 Short Sales From: United Country WS Sent: Friday, September 18, :02 AM To: Richard Thompson Subject: Re: Technology Fee document Richard, I find it amusing that some would complain about the minimal technology fee the home office charges. The complaints must come from those who just don't understand what it takes to maintain all the services that Mike, Judy, Tom and last but not least Dick do for us. I am sure there are many others behind the scene as well. Tell them they all do a great job, but please don't share this w/other affiliates as I do not intend to offend the whiners, just applaud the efforts of the workers :) Solomon Additional Facts Effective , borrowers are not eligible for a new FHA mortgage if they pursued a short sale agreement on their primary residence to 1.“ take advantage of declining market conditions” 2. “purchase another similarly priced property at a reduced price (short sale price) within commuting distance”. Borrowers are cleared for a new FHA-insured mortgage if they were current on their previous mortgage and other debts at the time of the short sale and if the proceeds from the short sale serve as payment in full. A borrower that executes a short sale while in default on their mortgage would not be eligible for a FHA-insured mortgage for three years from the date of the pre- foreclosure sale. Some lenders can make exceptions if the default was due to circumstances beyond the borrower’s control such as the death of the primary wage earner. But, it means that anyone eligible for the Home Affordable Foreclosure Alternatives program (HAFA) would not be eligible for a new FHA-insured mortgage for three years. Under HAFA, the US Treasury Department provides incentives to servicers, banks and investors to pursue a short sale for seriously delinquent borrowers.provides incentives to servicers, banks and investors to pursue a short sale

42 Short Sales Short Sale Information - FAQ Question: I have been told that if I sell my house for less than what is owed, my mortgage company will issue me a 1099 for the difference, and I will have to pay taxes on that. Is that true? Answer: In 2007, the Taxpayers Debt Relief Act states that the homeowner will NOT owe the IRS taxes from a short sale (You will still receive the 1099 but with no federal tax implication.) This act is in effect until 2010 and will most likely be extended – was it???. Therefore, there is no federal tax liability associated with a short sale at this time. To obtain information regarding any state or local tax responsibility, please consult your accountant. Question: Will I be responsible for paying the difference back to my mortgage company? (Will my mortgage company issue a deficiency judgment?) Answer: Some mortgage companies will issue a deficiency judgment and expect the homeowner to pay back any amount that is owed to them after the sale; however, the amount is usually substantially less than the deficiency judgment that would be filed as a result of a foreclosure. It pays to do a short sale instead. For legal advice on possible obligations after a short sale or foreclosure, please consult your attorney. From: United Country WS Sent: Friday, September 18, :02 AM To: Richard Thompson Subject: Re: Technology Fee document Richard, I find it amusing that some would complain about the minimal technology fee the home office charges. The complaints must come from those who just don't understand what it takes to maintain all the services that Mike, Judy, Tom and last but not least Dick do for us. I am sure there are many others behind the scene as well. Tell them they all do a great job, but please don't share this w/other affiliates as I do not intend to offend the whiners, just applaud the efforts of the workers :) Solomon

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